Skip to content
Pandaily logo

Pandaily

Everything about China's Innovation

  • News
    • Industry
    • Startups
    • Opinion
    • Cross-border
    • Sports
    • ESG
    • Energy
    • Web3
  • Auto
  • Gadgets
  • Video
  • Podcast
  • Trade
  • About
    • Contact Us
    • About Us
    • Write for Us
    • Join Us
login
Subscribe
Subscribe
login
China Top Five Buyers Expect to Increase Six Times More on Green Energy Consumption This Year
(Source: Alibaba)
ESG

China Top Five Buyers Expect to Increase Six Times More on Green Energy Consumption This Year

Sep 20, 2022, 21:03pm2022/09/20 21:12:02 Pandaily

Chinese companies are increasing to buy green energy with top five buyers aiming to consume six times more green energy in 2022 than previous year, according to a ranking list of top buyers and sellers by research provider BloombergNEF last week.

China’s green energy trading market is maturing, said BloombergNEF in the report released on September 15, as previously disparate policies across provinces starting converge. Domestic green energy supply and demand are flourishing, boosting a rapidly increasing market. Steel companies have become leading buyers of green electricity followed by tech enterprises.

Chinese tech giants Alibaba and Tencent are among the leading green energy buyers, ranking the second and fifth respectively in the list for all Chinese companies.

The Hangzhou-based internet company Alibaba procured roughly 860 gigawatt-hours (GWh) worth of clean energy this year while Shenzhen-based Tencent bought 504 GWh.

The ranking summarizes the most active buyers and sellers among Chinese companies in the green energy market based on previously signed contracts this year and future plans. The top five buyers were TISCO (1100 GWh), Alibaba Group (860 GWh), BMW Brilliance (670 GWh), Ansteel Group (560 GWh) and Tencent (504 GWh).

In BloombergNEF’s 2021 ranking of Chinese clean energy buyers, Alibaba Cloud and Intime Retail Group, two arms of Alibaba, ranked first and fifth respectively, with a total purchase volume of 299 GWh. Data center operator ChinData, and two petrochemical giants Juhua Group and Sinopec Yanshan Petrochemical Company were also included in the list.

SEE ALSO: Alibaba Releases 2022 ESG Report, Cutting Carbon Emission by 620,000t Last Year

Alibaba, as the largest buyer of clean energy in the Chinese tech field this year, released a carbon neutrality action report in December 2021, making it the first firm to do so in the domestic internet technology field. According to the report, between 2018 and 2020, Alibaba ranked first in the Chinese IT industry in terms of renewable electricity procurement, transaction and usage. Alibaba has also pledged to neutralize direct and indirect emissions associated with the purchase of electricity by 2030. To do so, Alibaba will continue to increase the proportion of its renewable electricity supply.

In July, Alibaba and State Power Investment Corporation Limited (SPIC), one of the largest clean energy providers in the world, signed a strategic cooperation agreement to jointly promote “new energy plus” and “digitalization plus” around eight green energy projects. In addition to buying renewable energy, Alibaba also proposes to achieve carbon neutrality through targeted emission reductions, carbon removal, and carbon offset.

Sign up today for 5 free articles monthly!

Sign in with google

Sign in with Email
or subscribe to a full access plan...


Pandaily Substack subscribe

Tags ∗Tencent | Alibaba | Alibaba Cloud | AlibabaESG | energy | Environmental social governnace | environmental sustainability
Alibaba Cloud Launches Carbon Management Solution Energy Expert

Alibaba Cloud Launches Carbon Management Solution Energy Expert

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba, announced on Thursday the global launch of Energy Expert, a sustainability platform to help customers measure, analyze and manage the carbon emissions of their business activities and products.

ESG Jul 01July 2, 2022
Pandaily
Forbes China Releases 2022 China ESG 50

Forbes China Releases 2022 China ESG 50

Forbes China released its 2022 China ESG 50 report on August 23, seeking to highlight the best practices of domestic enterprises in the field of ESG, analyzing and discovering their development status and related future trends.

ESG Aug 23August 23, 2022
Pandaily
Custom Alibaba Sans Typeface Available For Free Use in 178 Languages

Custom Alibaba Sans Typeface Available For Free Use in 178 Languages

Chinese tech giant Alibaba debuted a new version of its custom Alibaba Sans typeface in traditional Chinese, Japanese, and Korean scripts. The typeface will be freely available for general use.

ESG Aug 16August 17, 2022
Pandaily
Alibaba Releases 2022 ESG Report, Cutting Carbon Emission by 620,000t Last Year

Alibaba Releases 2022 ESG Report, Cutting Carbon Emission by 620,000t Last Year

Alibaba has cut a total of 619,944 tons of carbon emissions by changing its energy mix to include more clean sources in FY2022 (ended March 2022), according to the company's ESG report published on August 29.

ESG Aug 29August 29, 2022
Pandaily


A Guide to China's Tech World


TechBuzz China by Pandaily


Pandaily Substack subscribe

limit access
You have reached your free article limit.

Subscribe now to get unlimited access.

Subscribe now
  • news
  • gadgets
  • video
  • podcast

Everything about China's Innovation

Pandaily is a tech media based in Beijing. Our mission is to deliver premium content and contextual insights on China’s technology scene to the worldwide tech community.

NiuTrans.com

The automated manchine translation of regional languages is powered by NiuTrans.

  • About Us
  • Join Us
  • Contact Us
  • Write for Us
  • Donate To Us

Partnership

  • Trade
  • TechBuzz China
© 2017 - 2023 Pandaily. All rights reserved.

We also support Hindi language, do you want change to it?

हम यह भी हिन्दी भाषा का समर्थन है, आप इसे करने के लिए परिवर्तन करना चाहते हैं?

Yes(ह)

We also support Punjabi language, do you want change to it?

ਸਾਨੂੰ ਇਹ ਵੀ ਪੰਜਾਬੀ ਭਾਸ਼ਾ ਨੂੰ ਸਹਿਯੋਗ ਹੈ, ਤੁਹਾਨੂੰ ਇਸ ਨੂੰ ਕਰਨ ਲਈ ਤਬਦੀਲੀ ਚਾਹੁੰਦੇ ਹੋ?

Yes(ਜ)

We also support Bengali language, do you want change to it?

আমরা বাংলা ভাষা সমর্থন, আপনি এটি পরিবর্তন করতে চান?

Yes(হ)

We also support Burmese language, do you want change to it?

ငါတို့သည်လည်း, မြန်မာဘာသာစကားကိုထောကျပံ့သငျသညျကအပြောင်းအလဲလိုသလဲ

Yes(ဟုတ်ကဲ့)

We also support Nepali language, do you want change to it?

हामी पनि नेपाली भाषा समर्थन, तपाईं यसलाई परिवर्तन गर्न चाहनुहुन्छ?

Yes(ह)

We also support Tagalog language, do you want change to it?

Sinusuportahan din namin ang Tagalog wika, ang gusto mong pagbabago dito?

Yes(oo)

We also support Malay language, do you want change to it?

Kami juga menyokong bahasa Melayu, adakah anda mahu perubahan kepadanya?

Yes(yes)

We also support Indonesian language, do you want change to it?

Kami juga mendukung bahasa Indonesia, apakah Anda ingin perubahan untuk itu?

Yes(Iya)

We also support Thai language, do you want change to it?

นอกจากนี้เรายังสนับสนุนภาษาไทย, คุณต้องการที่เปลี่ยนแปลงไปได้หรือไม่

Yes(ใช่)